Bahrain Petroleum Company (Bapco) is expected to appoint an adviser for its planned $6bn refinery expansion project in early December.
The company met the four banks bidding to work on the project in early November. The US’ JP Morgan and France’s BNP Paribas are joint low bidders. The other two bidders are the UK’s HSBC and Germany’s Deutsche Bank.
The mandate is understood to include working on the refinancing of Bapco’s existing debt and options for financing the refinery expansion plans.